# Curtis Spencer

> Curtis Spencer is the co-founder and managing partner of Electric Capital, a leading crypto-focused venture capital firm managing over $2 billion in assets. A Stanford-trained computer scientist and serial entrepreneur, Spencer built and sold two companies - Cruxlux to Kosmix (Walmart Labs) and Spool to Facebook - before partnering with his college friend Avichal Garg to launch Electric Capital in 2018. Known for creating the industry-standard Electric Capital Developer Report and the crypto-ecosystems taxonomy, Spencer combines deep technical expertise with a community-first investment philosophy, focusing on open source developer ecosystems, privacy-preserving technologies, and decentralized economies.

- **Role:** Partner & Co-Founder at Electric Capital
- **Organizations:** Electric Capital, Stanford University
- **Nationality:** American
- **Education:** Master of Science (M.S.) in Computer Science, Stanford University, Bachelor of Science (B.S.) in Computer Science, Stanford University
- **Known for:** Co-founded and leads Electric Capital, managing over $2 billion in crypto assets, Built and sold two companies (Cruxlux to Kosmix/Walmart Labs, Spool to Facebook), Created the Electric Capital Developer Report, the industry standard for understanding crypto developer ecosystems

## Career timeline

- **Early 2000s** — Software Engineer at Oracle, learning high-quality code from senior engineers
- **2007** — Co-founded Cruxlux (connection graph/social discovery platform) with Stanford classmate Guha Jayachandran
- **2009** — Cruxlux acquired by Kosmix (later became Walmart Labs)
- **2010-2012** — Co-founded Spool, a mobile bookmarking service, with Avichal Garg
- **2012** — Spool acquired by Facebook in acqui-hire deal for team of five employees
- **2012-2018** — Software Engineer at Facebook
- **2018** — Co-founded Electric Capital with college friend Avichal Garg
- **2020** — Raised $110 million fund for Electric Capital (90% institutional backing)
- **2022** — Raised $1 billion across two funds ($400M venture fund + $600M token fund)
- **2023** — Speaker at Consensus 2023 conference
- **2025** — Electric Capital manages over $2 billion in assets, with 97 portfolio companies including 8 unicorns
- **2025** — Electric Capital Developer Report transitions to weekly updates from yearly, tracking 25,000+ developers

## Achievements

- Co-founded and leads Electric Capital, managing over $2 billion in crypto assets
- Built and sold two companies (Cruxlux to Kosmix/Walmart Labs, Spool to Facebook)
- Created the Electric Capital Developer Report, the industry standard for understanding crypto developer ecosystems
- Developed crypto-ecosystems taxonomy on GitHub, providing comprehensive classification of blockchain projects
- Portfolio includes 8 unicorns, 3 IPOs, and 9 acquisitions (Consensys, CoinList, Kraken)
- Pioneered community-first investment approach with less than 10% ownership stakes
- Secured 90% institutional backing from nonprofits, foundations, and university endowments with 10-12 year lock-ups
- Led transformation of Electric Capital Developer Report from yearly to weekly real-time updates

## Latest updates

- **2025-09** — Electric Capital has invested in 97 companies with 8 new investments in the last 12 months, including leading the $40M Series B of Etherealize with Paradigm
- **2025** — Electric Capital Developer Report now updates weekly instead of yearly, providing real-time tracking of developer activity across Bitcoin, Ethereum, Solana, and other networks
- **2025** — Over 25,000 developers are now building in open source crypto, according to Electric Capital's live tracking

## Links

- Website: https://www.electriccapital.com
- LinkedIn: https://www.linkedin.com/in/curtisspencer
- Twitter/X: https://twitter.com/jubos
- GitHub: https://github.com/jubos

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Profile page: https://yespress.io/curtis-spencer
Published by YesPress — https://yespress.io
Last updated: 2026-05-02